Insect feed protein firm highlighted in French government initiative
French mealworm derived feed protein producer, Ÿnsect, was chosen, in September, as one of France’s 40 most promising startups – the NEXT40 index, a list of companies deemed to have the strongest prospects for global growth. The story was our eight most popular article last month.
The NEXT40 index was developed by the French government's Department of Digital Affairs to facilitate the rise of French startups as global tech leaders. Companies must meet several criteria to be included in the index; they have to demonstrate significant fundraising and business growth.
Ÿnsect said it met and exceeded the full range of NEXT40 selection criteria, particularly on the fundraising side, with it generating $125m in a Series C funding earlier round this year.
